“¢ The pair extended its recent retracement slide from near four-month tops and remained under some selling pressure for the fifth session in the previous six.
“¢ The pair has now moved on the verge of breaking through the key parity mark, also coinciding with 61.8% Fibonacci level of the 0.9926-1.0125 recent upsurge.
“¢ The fact that the pair remains well below its important intraday moving averages – 50, 100 & 200-hour SMAs, clearly points to further near-term depreciating move.
“¢ Bearish oscillators on hourly/daily charts further add credence to the negative outlook and set the stage for a move towards testing the 0.9975 horizontal support.
“¢ A follow-through selling has the potential to continue dragging the pair further towards challenging the very important 200-day SMA, around the 0.9920 region.
USD/CHF 1-hourly chart
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USD/CHF
Overview:
Today Last Price: 1
Today Daily change: -12 pips
Today Daily change %: -0.12%
Today Daily Open: 1.0012
Trends:
Daily SMA20: 1.003
Daily SMA50: 0.9983
Daily SMA100: 0.9971
Daily SMA200: 0.9921
Levels:
Previous Daily High: 1.0026
Previous Daily Low: 0.9996
Previous Weekly High: 1.012
Previous Weekly Low: 1.001
Previous Monthly High: 1.01
Previous Monthly Low: 0.9921
Daily Fibonacci 38.2%: 1.0008
Daily Fibonacci 61.8%: 1.0015
Daily Pivot Point S1: 0.9996
Daily Pivot Point S2: 0.9981
Daily Pivot Point S3: 0.9966
Daily Pivot Point R1: 1.0027
Daily Pivot Point R2: 1.0042
Daily Pivot Point R3: 1.0057
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